Letters to the editor: Feb. 9

End Federal Reserve's grip on economy

To see signs of progress economically, we need an informed electorate.

This should be a goal attached to education reform. More civics and econ classes to teach coming generations how to understand tax dollar allocation. Let's tell people the truth - that the president and Congress have little to do with the economy. When it comes to fiscal policy, they are puppet figures engaged in partisan gridlock to avert attention away from the most important man - the chairman of the Federal Reserve, Ben Bernanke.

The Fed runs a dictatorship of the U.S. economy and has usurped Article 1, Section 8 of the U.S. Constitution. Bernanke, continues paying interest on reserves, flattening the yield curve (which makes banks less likely to lend) and creates inflation, which debases our currency. His goal seems to be to simply balance bank's spreadsheets and finance the Treasury, creating moral hazard by allowing the U.S. to raise its debt ceiling or taxpayer obligation.

The Fed's policies are counter-intuitively contracting the American economy. This exercise in credit accessibility to the government is actually depriving small businesses of reliable flows of capital and has destructive results on job creation.

To most, the economy is a mystery. In this case, it's hard to follow the money, because it mostly exists in the form of numbers on computers. So to answer the mystery of the continual stagnation of the U.S. economy, you have only to follow the man who dictates the money supply. End the Fed.